Solventum (SOLV) Revenue — Quarter Ended Sep 30, 2024
Total net sales increased modestly compared with the prior year, while remaining approximately level with the preceding quarter. The company reported higher net sales of product, partially offset by a slight decline in net sales of software and rentals.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Total net sales increased modestly compared with the prior year, while remaining approximately level with the preceding quarter. The company reported higher net sales of product, partially offset by a slight decline in net sales of software and rentals.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.1B
Revenue reported for this quarter.
Quarter-over-quarter
+0.0%
Change from the immediately preceding quarter.
Year-over-year
+0.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2023 | $2B | n/a |
| Mar 31, 2024 | $2B | +0.2% |
| Jun 30, 2024 | $2.1B | +0.2% |
| Sep 30, 2024 | $2.1B | +0.4% |
Revenue performance
The quarter's net sales rose slightly year over year, driven by an increase in product net sales. However, gross profit declined as cost growth outpaced revenue growth, leading to a decrease in operating income.
Quarterly comparison
Compared with the immediately preceding quarter, total net sales showed no material change. Relative to the same quarter a year earlier, net sales increased marginally, with product net sales rising while software and rentals net sales edged lower.
What to watch
Although revenue was stable, the decline in gross profit and operating income signals pressure on margins that warrants monitoring.